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May 12, 2023 12:45 EEST
May 12 (SeeNews) - Bulgarian diversified group Holding Center [BUL:HCEN] said on Friday that it has decided to privately place an eight-year bond issue worth 10 million euro ($10.9 million).
The placement will consist of 10,000 ordinary, transferable, secured bonds with an issue price of 1,000 euro each, equal to their nominal value, Holding Center said in a bourse filing.
The bonds will have a floating annual coupon equal to the six-month EURIBOR plus 1%, but not lower than 3% and not higher than 6%, with payments due semi-annually. The principal will be paid back in 10 instalments of 1 million euro.
The issue will be considered successful if it attracts at least 5 million euro of investment. The funds raised through the offering will be used to finance acquisitions, increase the value of the company's investments, manage shareholdings and repay Holding Center's liabilities.
Shares in Holding Center last traded on May 5 when they closed at 39.00 levs on the Bulgarian Stock Exchange, bourse data show.
($ = 0.9149 euro)
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